Explain the Concept of Meritocracy

question 47

Essay

Explain the concept of meritocracy. In what ways does it increase social support of the bourgeoisie? Be sure to discuss the concepts of false consciousness and ideology in your answer.

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Definitions:

Earning Revenue

The process of generating income from business activities over a period, typically from the sale of goods and services.

Net Income

The profit of a company after all expenses, including taxes and costs, have been deducted from total revenue.

Net Profit

The actual profit after working expenses not included in the calculation of gross profit have been paid.

External Users

Individuals or entities outside a company, such as investors and creditors, who rely on financial information to make decisions.